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- Major meme cryptocurrencies have experienced substantial gains over the past 24 hours, according to CoinGecko.
- Mog Coin (MOG) and Floki Inu (FLOKI) have added 33.8% and 23%, respectively, becoming the best-performing meme coins with a market cap over.
- Dogecoin (DOGE) and Shiba Inu (SHIB) are also in the green, adding 1.5% and 4.5% (respectively) over the past 24 hours. Last week, the two meme coins recorded notable price increases after Tesla CEO Elon Musk paid tribute to the late Shiba Inu Kabosu who inspired the Doge meme.
Discover the latest surge in meme cryptocurrencies, with Mog Coin and Floki Inu leading the pack, and explore the factors driving this trend.
A Growing Force
After Dogecoin exploded in popularity in 2021 due to Musk’s tweets, many assumed that the meme coin would end up being a fad. However, it has managed to retain its place within the top 10.
Continued Growth in the Meme Coin Sector
Moreover, the meme coin sector continued to grow at a rapid pace, and several other rivals are now vying for Dogecoin’s throne. As reported by CoinOtag, analyst Murad Mahmudov recently predicted that Pepe could end up surpassing both Shiba Inu (SHIB) and Dogecoin (DOGE) by market capitalization. Meanwhile, VanEck’s MarketVector recently launched a new index that includes the most popular meme coins such as PEPE and WIF.
Conclusion
The recent surge in meme cryptocurrencies underscores their growing influence in the crypto market. With Mog Coin and Floki Inu leading the charge, and Dogecoin and Shiba Inu maintaining their momentum, the meme coin sector is poised for further growth. Investors should keep an eye on these developments as they could signal broader trends in the cryptocurrency landscape.
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